Firm Description
ClientFirst is an investment adviser providing investment advisory services to individuals and
high net worth individuals. ClientFirst was founded in 2002.
Principal Owners
ClientFirst is owned by its sole employee, Edward P. Mahaffy, President, Senior Portfolio
Manager and Chief Compliance Officer.
Types of Advisory Services
ClientFirst offers the following types of advisory services: Financial planning services and
portfolio management for individuals and/or small business.
Investment Advisory Services
ClientFirst provides fee-only investment advisory services, providing ongoing investment advice
and monitoring of securities holdings based on the individual needs of the client.
ClientFirst develops portfolios based upon a client’s goals, objectives, investment time horizon
and risk tolerance, as well as their core financial-related values. ClientFirst uses asset allocation
or spreading investments among a number of asset classes and sectors (corporate bonds vs.
government securities) for most client portfolios.
ClientFirst will allocate the client’s assets among various investments taking into consideration
the overall management style selected by the client. Client portfolios include, but are not
limited to, mutual funds, ETF’s and Fixed Income securities. The mutual funds, if selected, will
be selected on the basis of any or all of the following criteria: the fund’s performance history;
the industry sector in which the fund invests; the track record of the fund’s manager; the fund’s
investment objectives; management style and philosophy; and fee structure. Portfolio
weighting between funds and market sectors will be determined by each client’s individual
needs and circumstances.
Financial planning may be offered as a component of the overall investment advisory services
and may include a review a client’s current financial situation. A review may include the
following components: cash management, risk management, insurance, education funding,
goal setting, retirement planning, estate and charitable giving planning, tax planning, and
capital needs planning. ClientFirst generally does not charge a separate fee for financial
planning services.
Tailored Relationships
ClientFirst tailor’s investment advisory services to the individual needs of the client. The goals
and objectives for each client are documented in our client relationship management system.
Client Questionnaires are created that reflect the stated goals and objectives. ClientFirst clients
are allowed to impose restrictions on the investments in their account. ClientFirst
may accept
any reasonable limitation or restriction to discretionary authority on the account placed by the
client. All limitations and restrictions placed on accounts must be presented to ClientFirst in
writing.
Fiduciary Statement
We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment
advice to you regarding your retirement plan account or individual retirement account, we are
also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act,
(“ERISA”) and/or the Internal Revenue Code, (“IRC”), as applicable, which are laws governing
retirement accounts.
We have to act in your best interest and not put our interest ahead of yours. At the same time,
the way we make money creates some conflicts with your interests. We must take into
consideration each client’s objectives and act in the best interests of the client. We are
prohibited from engaging in any activity that is in conflict with the interests of the client. We
have the following responsibilities when working with a client:
• To render impartial advice;
• To make appropriate recommendations based on the client’s needs, financial
circumstances, and investment objectives;
• To exercise a high degree of care and diligence to ensure that information is presented
in an accurate manner and not in a way to mislead;
• To have a reasonable basis, information, and understanding of the facts in order to
provide appropriate recommendations and representations;
• Disclose any material conflict of interest in writing; and
• Treat clients fairly and equitably.
Regulations prohibit us from:
• Employing any device, scheme, or artifice to defraud a client
• Making any untrue statement of a material fact to a client or omitting to state a material
fact when communicating with a client;
• Engaging in any act, practice, or course of business which operates or would operate as
fraud or deceit upon a client; or
• Engaging in any manipulative act or practice with a client.
We will act with competence, dignity, integrity, and in an ethical manner, when working with
clients. We will use reasonable care and exercise independent professional judgement when
conducting investment analysis, making investment recommendations, trading, promoting our
services, and engaging in other professional activities.
Wrap Fee Programs
ClientFirst does not participate in a Wrap Fee Program.
Client Assets
As of January 23, 2024, ClientFirst manages $221,586,588 in assets all on a discretionary basis.